Artemis Announces Sale of STC to IDEX

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Jan 09, 2024, 09:46 ET

BOSTON, Jan. 9, 2024 /PRNewswire/ -- Artemis ("Artemis"), the Industrial Tech Private Equity firm, completed the successful sale of its portfolio company, STC Material Solutions ("the Company" or "STC") to IDEX Corporation (NYSE: IEX).

STC is an advanced materials manufacturer based in St. Albans, VT. Across its Ceramic and Hermetic divisions, STC delivers unique advanced material solutions to a wide range of industries with particular focus on Aerospace, Defense, Medical, and Semiconductor markets.

Since acquisition in October 2018, STC experienced transformational growth under Artemis ownership. The Company's new material capabilities, product offerings, go to market strategies, among others, have propelled STC over the past five years. But more than anything, their success can be attributed to the unstoppable combination of the right strategy with a committed, passionate, and technically exceptional team.

James Ward, Partner, said of Artemis' experience with STC, "The Artemis partnership with STC is point in proof of Artemis' vision, mission, and values on the whole. Our goal is to build exceptional Industrial Tech companies whose people and products accelerate a healthier and safer world. STC is an inspired example of just that. We believe that the future of STC has never been brighter and we look forward to cheering them on as part of the IDEX family."

James Callan, CEO of STC, shared this about working with Artemis, "Artemis distinguished themselves as a true partner by their ability to unequivocally execute against their vision, while maintaining strong values and caring deeply for the well-being of the people at the company. Their unmatched understanding of our markets, technologies, and company building strategies enabled our team to thrive and achieve unconstrained growth."

Houlihan Lockey was the financial advisor and Morgan Lewis was the legal advisor for Artemis.

About STC

For 125 years, STC has delivered unique Advanced Material solutions for the most extreme, mission critical applications across a wide range of industries, primarily focused on Aerospace, Defense, Medical, and Semiconductor. For more information on STC, please visit: www.ceramics.net.

About IDEX

Founded in 1988 with three small, entrepreneurial manufacturing companies, IDEX currently has 50 diverse businesses around the world part of the IDEX family. With more than 8,500 employees and manufacturing operations in more than 20 countries, IDEX is a high-performing, global company with over $3.1 billion in annual sales, committed to making trusted solutions that improve lives. For more information on IDEX, please visit: www.idexcorp.com.

About Artemis

Headquartered in Boston, MA, Artemis is a specialized private equity firm focused on partnering with differentiated Industrial Tech companies, whose people and products enable a healthier, safer, more connected, productive, and equitable world. For more information on Artemis, please visit: www.artemislp.com.

SOURCE Artemis Capital Partners